How I Make 500K Per Year From Mini Mail Boxes
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- เผยแพร่เมื่อ 2 ต.ค. 2024
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Ken McElroy talks about mailbox rentals with Lisa Song Sutton, a former corporate lawyer turned entrepreneur. Lisa reveals how she built a thriving business generating over $500,000 annually from tiny mailboxes. Learn the keys to her success, the strategies that got her profits, and how you too can turn a simple concept into a steady stream of income.
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It would really help us out, and it motivates Ken to make more videos.
Thank you so much it really means a lot.
Ken, im very interested in multifamily investments. Where can I get financial statements for certain apartment complexes, as I can find financial staThanks! for stocks in SEC. Thanks always!
Thank you so much for having me on the podcast again, Ken! I’m always grateful for your mentorship, kindness and inspiration!
hello, what happens if I send a over sized item like a car engine size box and it takes months for me to go and take it?
never mind I just watch your other vids, marry me
Golden information! Thank you so so much!
Hi Lisa, does your store generate $500k in revenue or earnings/profits?
@@mrhouse79hi, gross revenue
@@LisaSongSutton thanks for the reply, Lisa! What is your profit margin on $500k in revenue?
Thank you for your research. I find your videos are well done. RIght now I'm keeping an eye on Eledator
Thank you for sharing. Financial education is crucial today to show incredible resilience and discipline in the volatile market, masterfully balancing strategy and insight for success. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 2.1BTC to a decent 15B TC in the space of a few weeks... I'm especially grateful to John Preston, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape..
Please how do I go about it, am still a newbie on investment trading and how can I make profit?🙏🙏
HE’S MOSTLY ON TELEGRAMS APPS WITH THE BELOW NAME.
@johnPtrader ⭐⭐⭐
Thanks for the information... I will contact him as soon as possible. I also want to gain good knowledge and stop losing.
I agree that there are strategies that can be used to generate solid profits regardless of the state of the economy or market, but such implementations are usually carried out by investment experts or advisors with experience.
Really really enjoyed listening to the interview, opening my eyes up to this business model. Thank You
Super hard business to actually start & sustain. I looked into. Not to dissuade anyone but be honest from the start. There is a reason there are so few independent shipping stores. Your competing with your local USPS locations & UPS stores for mailbox & FedEx. Location will ultimately determine your fate as you need abundance of middle/upper middle class residence in area (think large multifamily home structures) which are not within half mile of USPS/UPS store. UPS spends millions on research to target areas so it will be difficult to out-research them and get store in prime location.
Her layout is correct with mail boxes in front and secondary income (shipping, accessories) in back. To survive you need to hit a note in that community of being seen as family to them and offer everything (mail boxes, shipping, shipping supplies, stationary custom printing, virtual mail boxes, graphic design).
I work for USPS and they do have a Guarantee delivery it’s called express…. You welcome…. And yes USPS is the cheapest delivery system because we deliver for every carrier they just overcharged the customer when u go with a Third party…. But good broadcast I should open my store 😊
Yea but some businesses or entities don't deal with P.O. BOXes..U CAN USE THIS AS A BRICK & MORTOR... YOUR WELCONE
it's all about taking advantage of gullible people. that is how you can go enjoy life on a beach in Paris with the movie stars.
@@soundstructuremedianot true and you know that. You can get street addressing and use the post office address and add unit # for P.O. Box number.
I own an eCommerce brand and we ship around 90K packages annually. Yes, USPS does have a joint shipping program with UPS but it is NOT cheapest. 95% of our shipments go through UPS, they are a fair amount cheaper than USPS. USPS is ran by the federal government, anything they digs their filthy claws in goes tho crap and the United States Postal Service is no different. UPS is leaps and bounds better on customer claims, chargebacks, missed deliveries, and all other claims over USPS. I understand that you work there, may be slightly bias and enjoy the fruit of their mismanagement; however, this is just my 2 cents worth.
You are correct alot of business will not let you use a P.O box as a address at all. I know I work for a huge company and we get asked this all the time and it's a no for us we will not accept it even as your company address.
Right now the small PO Box in Puerto Rico from USPS is $200 per year.
I love Lisa's energetic energy. Thank you guys for an excellent video post.
I took her course and it is great. I’m trying to get a store going in St Petersburg FL but rent prices are ridiculous.
Really ? I want to take it but I wasn’t sure if it will be good,
I’m in west Palm Beach Fl
How much did it cost and do you feel like the value is worth it?
How much is it?
Everything sounds simple in a 25 minute video. I admire Lisa's passion, her communication skills and her ambition but this is not a simple industry by any means and people should take your advice and research multiple resources before investing.
Lisa's approach to the mini mailbox business is a brilliant demonstration of how niche markets can yield significant returns. Location and understanding customer demographics are key factors in replicating this success in similar ventures. 💡
Thank you Ken for these videos they are so inspiring.
How do I get more info on this business model?
Great video, I only have one comment that the lady got wrong is that almost all postal offices do offer street addresses attached to your postal box and they will receive your packages for you at no additional cost. That being said they will not advertise this service, they might not even know that they can do it. I had to train the counter and Post Mistress about this service and they have done a great job since. There are no postal stores in my area so training the Post Office was my only option It would be a great area to open one, once retail space is built. In the neighboring towns UPS just took away their franchises even though there is always a line, not sure whats that about.
Yes true I been using postal street address delivered to my po box. Also great I get alerted by email that I have mail. No more going check everyday. So convenient and no charge for that service for being notified
My local one has no openings and the customer service is absolutely terrible
Ken, thank you for another great episode. This is hands down the best channel for entrepreneurship. You’ve been an incredible enriching resource through my journey working in real estate development.
so, this is technically like a mini bank as you're temporarily conserving items of value for the public. What's the insurance cost?
She is awfully cute for being such a winning business intellect! Many of us have used remote mailboxes over the years. Seems like a nice idea.
Expensive
He should have asked her what bookkeeping system would she recommends.
This business model has been around for years now. It works well if you dont live in an hellified expensive state like New York....Rent would eat up your profits.....
This woman is a mind blowingly smart entrepreneur! Thanks for a really eye opening video. Who knew?
My usps PO box is $118 per year. And has a virtual address that accepts FedEx UPS and Amazon packages, also referred to as "Street Addressing" which also allows you register your business there. And my post office lobby is open 24/7/365 and has package lockers. Why would I rent hers for $20/mo with limited hours for getting mail and packages?
Because you can’t register a principal address for a business or an individual without a “physical” location. I have my business and individual docs tied to a UPS store address, so customers and stalkers don’t show up at my home (like they have in the past).
Plus, USPS is not conveniently located near me and typically has long lines for mail-outs.
@@andrewhollern This is false. About 7 years ago the USPS rolled out physical address feature with your PO box subscription. Most post offices across the country now allow you to use their physical street address, to both receive mail and packages and business registration. Look it up, it's called "Street Addressing", you're behind the times. I have had my business registered to the physical address of the post office now since 2018.
P.O. Boxes aren’t good for businesses looking to establish a business bank account, especially businesses funding.
It boils down to your businesses needs and your business long term goals.
Maybe she scans and recycles incoming mail? This would be a huge improvement.
@@intelligizeme9199 You are completely missing what was said. You don't have to use PO Box in your address. USPS offers "Street Addressing" at most post office locations, has been this way for years. I have my real estate business and financial accounts registered to the USPS Street Address for my PO box.
Oh, I love you guys, the best market analysis! Seriously, why not mention Eledator?
So is there a charge for larger packages that have to be held in the back?
We’ve really struggled in our community to convert for mailboxes. It’s a new concept in the community and VERY slow to take. 5 rentals in 6 months. We’ve changed the price point to below the Post Office just to get what we’ve gotten. Several marketing pushes that have fallen flat. Professional looking boutique storefront. People don’t love changing their addresses. If you’re in a bigger market where there are more people starting home based businesses, you would be better off
We all know why she gets privileges 😅😂.
why?
Looks?
The UPS franchise dictates how many physical mailboxes are on the floor but there is virtual boxes that are allowed also.
Really interesting, thanks for having this pod.
I have a p.o. box at us postal office in my area. They now offer free street address mailing. So all my ups or federal express can be ship there. Also what I get for free is email alerts letting me know if I have mail. No more checking every day of I have mail. Finally and more convenient
U don’t need a government contract for that
thanks from Paris, france
People need mailboxes today?? 😮
How many mailboxes do you have?
$500k revenue or net profit?
Grose revenue.....
EBITDA is what you're hoping for😂
Interesting interview though✨
Yeah, it was so much blah-blah that I could not finish listening. Did she say anything about profit margins and return on investment?
Great model with low entry, thanks for the video.
I have considered doing this.
Wow, charging more than the post office for exactly what they do! Great idea lol
You never been to my post office. They are renting space in a fairly large town. 2 workers, always a line, and never has any shipping supplies. Total mess. Street parking unless u want to park in a parking garage and holiday season the line is out the door. This is why I use a independent shipper or UPS. But ups is the last resort. Very expensive. In my city USPS is too cheap to build their own location.
Not all glitter things are gold.
But aren't virtual mailboxes killing physical mailbox rentals?
How do you receive a virtual package ?
Needed for affairs, criminal activity, and people who want to disappear.
aren't virtual ones emails? That has been around forever.
Nope, we partner with them! For example, we service iPostal from our physical stores too.
@@LisaSongSutton Thanks Lisa! Btw, we love your mailbox course!!
Does she net 500k?
Great show guys!
Great idea to approach a business owner and create a successful blueprint for 10k. Some would balk at that price tag, but knowledge is everything. Some pay far more than that for college tuition and get much less in return.
Survivor bias.
How many businesses went under, for this one success story.
True mailbox money 💰
How is this different from ups franchise? Other than you don't have to pay franchise fee
You're not capped on the amount of mailboxes to put out.
Odd question since she actually explains the differences. RTFM? (in this case WTFV I guess)
Wow!!! Such an innovative idea for a business model.
Really interesting insight into US culture, but completely irrelevant to those of us living in a civilised part of the world with a decent and reliable mail system.
this is perfect for people buying and selling dr*gs online 😂😂😂😂😂😂
My question for Lisa would be how does the new digital dollar and credit card and bank statements going paperless affect her business
heck yeah. I'm in.
Why r you assuming that no one willing to pay for the business? Don’t jump in to conclusions that everyone is cheap. Be responsible for your own actions , ideas or assumptions.
The course was not offered. Simply “no reply “
It’s on her website
@@peacefreedom4930
I contacted her location a few times, left messages and she never returned my calls. Unfortunately. I was excited to talk to her and hopefully learn more about her business model, but. It didn’t go anywhere. I Guess talking about her own success and helping to someone it’s not the same thing.
There is nothing more annoying than a person demanding something for nothing.
Did you forget to tell her you had at least $10K ready to go to learn the business? It takes money to make money.
The self entitlement just oozes in this comment 😂
Her website has a course btw.
This comment has a really creepy vibe to it. Women are victimized by a lot of twisted men. I don't blame her for not taking your call.
May be buy her course of like $10k and she then probably teach something lol 😂